According to a report in the Wall Street Journal, Mattel Inc. is parting company with another one of its top executives in the USA.
Tim Kilpin, who earlier this year was said to be in the running to replace departing chief executive Bryan Stockton, left his job on Monday. According to a securities filing, he will stay on at the company in an advisory capacity until November. He is the highest profile departure since Chief Executive Bryan Stockton left the company in January. Another senior executive, Geoff Massingberd, lost his job running Mega Brands Inc. in June.
Only two months ago, Tim Kilpin was appointed to lead Toy Box, a newly created unit tasked with managing Mattel’s stable of smaller brands such as Polly Pocket, Matchbox and Pictionary, as well as inventing new toys and quickly bringing them to market. This new role was far removed from his prior assignments overseeing some of Mattel’s marquee properties such as Hot Wheels and Barbie.
At the time, company executives suggested that Mattel needed such an entrepreneurially minded division to compete in the fast-changing toy landscape and felt Mr. Kilpin, who oversaw the successful launch of Monster High dolls and once oversaw all boys and girls brands, has the background to oversee it.
It is thought that Mattel will name a new head of the Toy Box division shortly.